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MarketScreener Homepage  >  Equities  >  Nyse  >  Four Corners Property Trust Inc    FCPT

FOUR CORNERS PROPERTY TRUST INC

(FCPT)
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Four Corners Property Trust : FCPT Announces Acquisition of a Dual-Tenant Starbucks and Noodles & Company Property for $2.4 million

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10/11/2018 | 08:14pm EDT

Four Corners Property Trust (NYSE:FCPT), a real estate investment trust engaged in the ownership of high-quality, net-leased restaurant properties (“FCPT” or the “Company”), is pleased to announce the acquisition of a dual-tenant Starbucks and Noodles & Company restaurant for $2.4 million from PREIT. The property is located in Maryland, and is occupied under two, separate double-net leases with approximately 6.3 years of term remaining and a rent escalation of 2.0% annualized. Both of the leases are with the corporate operator of each tenant’s respective brand. The transaction was priced at a 7.0% going-in cash cap rate, exclusive of transaction costs.

About FCPT

FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the acquisition and leasing of restaurant properties. The Company seeks to grow its portfolio by acquiring additional real estate to lease, on a net basis, for use in the restaurant and related food services industry. Additional information about FCPT can be found on the website at http://www.fcpt.com/.


© Business Wire 2018
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Financials ($)
Sales 2019 163 M
EBIT 2019 101 M
Net income 2019 77,2 M
Debt 2019 646 M
Yield 2019 4,10%
P/E ratio 2019 27,34
P/E ratio 2020 25,27
EV / Sales 2019 15,8x
EV / Sales 2020 15,1x
Capitalization 1 936 M
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Mean consensus HOLD
Number of Analysts 7
Average target price 30,0 $
Spread / Average Target 6,0%
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Managers
NameTitle
William H. Lenehan President, Chief Executive Officer & Director
John S. Moody Chairman
Gerald R. Morgan Chief Financial Officer
Douglas B. Hansen Independent Director
Marran Humphrey Ogilvie Independent Director
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